BAKU, Azerbaijan, September 24. Iran is getting ready to start producing crude oil from two of its oil fields, Sepehr and Jufair, said Homayun Kazimeni, an official of Iran Petroleum Engineering and Development Company (PEDEC), Trend reports.
In general, 2 phases have been determined for development of the mentioned two fields.
Kazimeni noted that the first phase of the project consists of preliminary drillings, which have been completed. As a result, the fields will soon produce 21,000 barrels of oil per day.
The official also said that the first phase will be fully operational later, and the production will rise to 36,000 barrels of oil per day.
He added that there is a second phase planned, which will boost the production to 110,000 barrels of oil per day.
Both fields are operated by Iran’s Petroleum Engineering and Development Company (PEDEC).
In general, two phases have been determined for the development of the mentioned two fields. In May 2020, a contract was signed among the National Iranian Drilling Company, Pezhvak Energy Engineering Services Company (PECO) and Pasargad Energy Development Group for the development of the Sepehr and Jufair oil fields. The value of the contract signed under IPC (Iran petroleum contract) was $60 million.
Sepehr field's reserves are estimated at 5.4 billion barrels of oil, of which 450 million barrels are extractable. Jufair oil field's reserves are estimated at 4.4 billion barrels of oil. Its potential production reaches 390 million barrels, of which 390 million barrels are extractable.
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